CASPER
New member
TORONTO – Canada's recovery from an economic recession is not yet fully secured and the government must continue spending on projects to stimulate growth, Finance Minister Jim Flaherty said on Friday.
"Canada's economy is still fragile and uncertain. The global economic crisis is affecting every part of the country, affecting every country in the world," Flaherty said while announcing infrastructure projects in Toronto.
"It's important that we continue to stimulate the economy in Canada and this announcement is an important part of that," he said after announcing a C$600 million ($556 million) in investments in infrastructure projects in the city.
On Thursday, Flaherty acknowledged that as a result of the global economic meltdown and the government's stimulus spending, the Conservative government does not know for sure when it will be able to eliminate its budget deficit.
Previously, the government had promised to balance the books by 2013-14 but it has now pushed that back by at least two years, based on private sector growth forecasts.
The deficit for 2009 will be about $55.9 billion -- about 10 per cent more than the government's previous forecast.
"Canada's economy is still fragile and uncertain. The global economic crisis is affecting every part of the country, affecting every country in the world," Flaherty said while announcing infrastructure projects in Toronto.
"It's important that we continue to stimulate the economy in Canada and this announcement is an important part of that," he said after announcing a C$600 million ($556 million) in investments in infrastructure projects in the city.
On Thursday, Flaherty acknowledged that as a result of the global economic meltdown and the government's stimulus spending, the Conservative government does not know for sure when it will be able to eliminate its budget deficit.
Previously, the government had promised to balance the books by 2013-14 but it has now pushed that back by at least two years, based on private sector growth forecasts.
The deficit for 2009 will be about $55.9 billion -- about 10 per cent more than the government's previous forecast.
